Art of the Lakes Association Inc

Analysis

Art of the Lakes Association Inc is a registered charity in United States, based in Battle Lake, MN. It received its IRS tax-exemption ruling in August 1988, 38 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Art of the Lakes Association Inc reported income of $245k and spending of $173k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $136k to $245k (+81%), an average of +81% a year. The sharpest change came in the year to December 2023, when income rose by 81%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art of the Lakes Association Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within MN. Charities of a similar size with the same main cause include Canvas Institute ($245k), Colonial Pennsylvania Farmstead ($245k) and The Paper Bag Players Inc ($245k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 8.0% of the total. Other salaries and wages came to $38k. At year end it held assets of $263k against liabilities of $11k, net assets of $252k. It reported 3 employees.